Uranium Resources (NASDAQ:URRE) announced it began exploratory drilling on the 54,847 acres in Kenedy County, Texas, called the Los Finados Project.Don Ewigleben, President and CEO of URI, commented, "The Los Finados project allows URI to explore for uranium in one of the largest contiguous untested land blocks in the prolific south Texas uranium district. URI’s water sampling results from our earlier testing, our analysis of local geologic trends, and the history of uranium production in the district suggest that the Los Finados property is highly prospective for the occurrence of one or more uranium deposits that can be produced by commercially viable ISR technology. Our three phase exploratory drilling will confirm what, if any, resources are present on this particular parcel in the district."Uranium Resources is currently below its 50-day moving average (MA) of $1.71 and below its 200-day MA of $2.21.